WAR FINANCE.

Lyttelton Times, Volume CXVII, Issue 17099, 23 February 1916, Page 7

WAR FINANCE.

AUSTRALIA'S EXAMPLE. DEEP IMPRESSION CREATED IN LONDON. ("Australasian.") Financial newspapers in London state that the success of the second Commonwealth loan has created a deep impression. They state that it has farreaching significance, and will be a surprise for the enemy. It .is a great financial achievement, they point out, to float two loans in such a short period, and the results give gratifying evidence of Australia's undiminished will to remain in the war and a demonstration that she possesses very real resources of her own. PRICELESS NATIONAL ASSET, In. financial, political and general business circles the chief topic ot conversation has been the success of the second war loan. Instructive, speculations are indulged in. When ten millions are asked for, and more than double that amount is offered, it is taken for granted that, financially, the strain of the war is not yet seriously felt in this part of the world; moreover, capital, it is claimed, has in this emergency risen to a full sense of its obligations. One effect of the great volume of ready mohey offered for carrying on the war has been to strengthen the spirit of confidence in the future oi Australia, and in the. determination ot. its people to do their share in the mighty struggle still going on.- . . .

One of the healthiest indications provided h-r the result of this loan has been the long list of contributions by persons of moderate or comparatively small means. The spirit shown here is a priceless national asset. Australia stands before the world, too, as a very rich, country. And it is confidently expected that the result will favourably impress the Empire, as well as Allied ana neutral nations.